no there wont be any breaks spots, just half as much work where they normally work for 30 minutes. maybe we can look at what the break rooms look like in china or vietnam and get an idea where the developed countries are headed if they do nothing.
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Bonnie Faulkner: What is the aim of the Trans-Pacific Partnership Treaty and how is it at odds with the Asian Infrastructure Bank, the AIIB?
Michael Hudson: I could give a glib answer and say the aim is to reduce the population by 50%, to starve people, abolish pensions and spread poverty. That actually is the effect.
The cover story pretends to be about trade, but the real agenda is to force privatization and disable government regulation. This reverses what was central to the whole Progressive Era. For the last 300 years, the assumption of Europe and North America was that you were going to have a mixed economy, with governments investing in infrastructure, roads and other transportation, communications, water and sewer systems, gas and electricity. The role of government infrastructure was to provide these basic needs at minimum cost in order to promote a low-cost, competitive economy. That’s how America got rich. That’s how Germany industrialized and how the rest of Europe did. But the aim of the Trans-Pacific Partnership is to reverse and privatize public investment. Its ideology is that the economy should be owned and operated by private owners, private enterprise, whose aim is short-term profit.
There are a number of related aims: to nullify environmental protection regulations that cost money, to nullify protection of labor, and to nullify attempts to tax natural resources or economic rent. The idea is to turn roads and the transport system into toll roads, which will be owned by foreigners and run at a high charge. The Internet and the water system will be sold off and made into toll systems, to charge for their services and for other basic needs. This will impose a neo-feudal rentier economy throughout the world as the finance, industrial and real estate (FIRE) sector takes over the government sector.
I think you could say that at the broadest level, the idea is to roll back the Enlightenment and restore feudalism. That may sound like an extreme statement, but people don’t realize how radical the TPP’s investment agreements are. For instance, when Australia raised the charges on cigarettes and included health warnings on the packs, Philip Morris sued, insisting that Australia pay it what Philip Morris would have made if people would have continued to smoke and get cancer at the existing rate.
When Ecuador tried to sue oil companies for pollution, the oil companies sued, and now the country has to pay the oil company the amount of profit it would make if it continued to produce oil by polluting the land – to an infinite degree. No government anywhere in the world that signs this will be free to regulate the environment or even to enact new taxes on rent-seeking or other private enterprise.
Essentially, the new buyers of the roads, the water systems, the sewer systems, can use these as rent extraction opportunities without anti-monopoly regulations. That means they can charge whatever the market will bear, and treat foreign countries sort of like New York City cable customers are treated. I live in Forest Hills in Queens. We have one supplier, Time Warner. If I want cable, I have to pay what they charge, and it has nothing to do at all with their cost of production. I have to rent their cable box, not buy one of my own."